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Lucid said on Monday it is raising $1 billion in capital from an affiliate of Saudi Arabia’s Public Investment Fund (PIF), sending the shares of the luxury electric carmaker up about 8%. The latest investment by the sovereign wealth fund underscores a key advantage Lucid has in the race for survival among struggling EV startups. The Saudi government, which has a 60% stake, has invested billions in Lucid’s success as part of a strategy to diversify the Kingdom’s economy beyond oil. Ayar Third Investment Company, a PIF affiliate, will buy $1 billion in convertible preferred stock and will be able...

The Defense Advanced Research Projects Agency has set its sights on the Moon, recently choosing defense giant Northrop Grumman to work on concepts for building a lunar railroad network, according to the Debrief. The recent development is DARPA's latest announcement concerning their 10-year Lunar Architecture (LunA-10) Capability Study. The ultimate goal is to reportedly establish a human colony on the Moon and a "thriving lunar economy." DARPA published the following statement about the development: The 10-Year Lunar Architecture (LunA-10) will explore the rapid development of foundational technology concepts designed to move away from individual scientific efforts within isolated, self-sufficient systems...

Why even order a Cybertruck if you can't immediately flip it for twice what you paid?Even before deliveries of the Tesla Cybertruck began, the electric automaker made it clear that it would be a long time before it was produced in anything other than extremely limited quantities. That meant that if you were one of the few who had pulled yourself up by your bootstraps hard enough, you stood to make quite a bit of money auctioning yours off to the highest bidder. The latest failed attempt to do so, this time on Cars & Bids, has us worried, though....

Elon Musk’s Tesla has suffered another safety setback after a tenacious lithium-ion fire battery suddenly hit a Tesla EV driving on an Ohio highway which led to a three-hour closure of the northbound lanes of Route 255 in Bethalto, Illinois on Sunday. Thankfully, the driver and their passengers safely escaped the burning vehicle before it was too late. The Alton Telegraph reports that a Tesla electric vehicle caught fire while traveling northbound on Route 255 in Bethalto, Illinois on Sunday, prompting a major response from multiple fire departments and the Madison County Hazmat Team. The incident, which began around noon,...

Hertz Global Holdings Inc. is replacing its chief executive officer in the wake of a disastrous bet on electric vehicles that the company began unwinding in recent months. Stephen Scherr, who ran Hertz for just over two years after three decades at Goldman Sachs Group Inc., has decided to step down, the rental-car company said late Friday in a statement. It’s replacing him with Gil West, the former chief operating officer of General Motors Co.’s Cruise robotaxi unit. West also will join the board of directors on April 1, according to the statement, which confirmed an earlier Bloomberg report.

On Thursday, March 14, Elon Musk's SpaceX launched the third test flight of its Starship Super-Heavy rocket, the platform the company is pushing to take humans to the moon and Mars. Clips: VIDEOS AT LINK..................

Looks like Tesla can mark beaches off their "built for any planet" branding for their Cybertrucks. One driver got stuck on Monday afternoon at Marina State Beach after trying to illegally drive their Tesla Cybertruck through the sand. Advertisement The owner was able to get off the sand after deflating their tires. They were cited by the State Parks.

Arsonists calling themselves the Volcano Group left Tesla’s German factory without electricity on Tuesday, leading to damages the company claims could approach $1 billion.

Jeff Bezos has usurped Elon Musk as the world’s richest man with a net worth of $200bn (£158bn) after a surge in the share price of Amazon. The Amazon founder, 60, overtook his rival for the first time in three years, with Mr Musk now sitting on a fortune worth $198bn, according to Bloomberg data. The pair’s fortunes are largely tied to their respective holdings in online retail giant Amazon and electric car maker Tesla. Amazon’s shares have climbed 18pc so far this year, valuing the business at more than $1.8 trillion as technology stocks rocket on the back of...

@RepThomasMassie My off-grid home runs on a wrecked Model S Tesla car battery that I repurposed. This is the display I created for it 6 years ago. The upper left graph is a 24 hour history of the net energy into the battery. Today was a great solar day in Kentucky!

Key Points: Tesla stock is down 21% in 2024 so far, and it's down 52% from its all-time high. Growth in Tesla's electric vehicle deliveries is decelerating. Tesla has a plan to reignite growth, but there are no short-term fixes for this problem. The electric vehicle giant isn't growing like it used to. Tesla (TSLA 1.81%) was the world's largest electric vehicle (EV) company by sales until the fourth quarter of last year when China-based BYD outsold it for the first time. Tesla once had the EV market almost entirely to itself, but now, it's grappling with a tsunami of...

Also, another Tesla was involved but didn’t get mixed up in the crash. (Of course this was in California.) https://www.youtube.com/watch?v=bW736jGWE34 Everybody knows that California is the land of EVs in the United States. The stats show it, but if numbers and charts aren’t your cup of tea, what better way to showcase The Golden State’s leading EV adoption rate than a crash video that involves no fewer than four EVs, and all of them Teslas? When so many cars are so close to one another at the same time that they’re involved in the same crash, you know Tesla is...

Tesla's Cybertruck hasn't been on the road for long, but the stainless steel vehicles are already showing signs of rust, some owners are complaining. The sport utility vehicles, which start at $57,390 and cost up to $96,390, were first delivered to customers in December. Just two months later, buyers are posting images on social media showing orange rust spots appearing on their new EV's exterior, in some cases after driving it in the rain. Tesla did not immediately respond to CBS MoneyWatch's request for comment regarding the customer complaints. In one online forum, Cybertruckownersclub.com, a Tesla Cybertruck owner posted close-up...

Burn on, Bidenomics! The Biden administration is reportedly considering easing tailpipe emissions regulations, a move that was designed to force Americans from gas and diesel-powered vehicles to electric vehicles, according to The New York Times, citing three people familiar with the plan. This potential policy adjustment is in response to concerns from major automakers and labor unions and comes amid sliding EV demand, recently prompting companies such as Ford Motor Company to reduce EV production and lay off workers. “Instead of essentially requiring automakers to rapidly ramp up sales of electric vehicles over the next few years, the administration would...

There's a reason very few new automakers have been launched over the past 40 or so years. Building and selling cars takes a tremendous amount of infrastructure. When you add in having to create not just a new design, but a new method of powering your car, you see why big auto has generally been a closed club. Tesla (TSLA) , of course, has crashed that party, becoming the first startup electric vehicle manufacturer to operate at scale. You can credit that to the genius and drive of Elon Musk. It may have been lost in his recent conversion to...

The latest dependability study results from J.D. Power make for grim reading if you’re in the market for a new car. The longer-term reliability of two thirds of all brands has decreased, and industry-wide, drivers are experiencing 190 problems per 100 vehicles. That’s 4 more problems per 100 vehicles than the study found 12 months ago. Worse still, the rate at which problems present themselves has increased. A year ago, 12 percent of people experienced an issue in the first 90 days to three years of ownership. Now, the rate is up to 17 percent. It should be noted here...

Multiple viral videos of Tesla drivers wearing an Apple Vision Pro headset while letting the car drive itself has people sounding the alarm about Elon Musk’s notoriously dangerous assisted driving technology. Mashable reports that multiple videos of Tesla drivers wearing the new Apple Vision Pro headset while driving using the vehicles “Full Self-Driving” feature has caused worries about potential safety issues. In one video, a 23-second clip shows a Tesla driver taking his hands off the steering wheel and concentrates on controlling the headset’s virtual reality display. The video was posted on February 2, the day the new Apple headset...

Billionaire X/Twitter owner Elon Musk claimed on Friday that President Joe Biden is trying to “get as many illegals in the country as possible” so he can create a “one-party state.” Reacting to an AP report which said Biden would “prioritize legal status for millions of immigrants,” Musk wrote: Biden’s strategy is very simple: 1. Get as many illegals in the country as possible. 2. Legalize them to create a permanent majority – a one-party state. That is why they are encouraging so much illegal immigration. Simple, yet effective. He added, “Here is the full text of the bill. It...

The link to the video, is about one page down. The best-selling car. Worldwide. For the year 2023. Period.

In a seemingly orchestrated legal drama, a New York jury orders former President Donald Trump to pay $83.3 million to E. Jean Carroll for alleged defamation. The verdict, including $65 million in punitive damages, $11 million for reputational harm, and an additional $7.3 million, raises questions about the political undertones. Simultaneously, a Delaware judge rules Elon Musk is not entitled to a groundbreaking $55 billion Tesla pay package. The decision follows a shareholder lawsuit accusing Musk and company directors of breaching duties, leading to corporate waste and unjust enrichment. The timing of these legal battles suggests potential political maneuvers at...